Alphabet has announced that it will spend $75 billion on its AI buildout this year, 29 per cent more than Wall Street expected, and investors signaled disappointment at a missed cloud revenue target and began showing impatience over profitability.
Shares of the Google parent fell 9 per cent in extended trading. Alphabet has gained about 9 per cent so far this year.
Wall Street had been expecting 2025 capital expenditures
